A venture fund run by the University of Tokyo has backed a fingerprint payment startup called Liquid to help it develop its product for possible use at the 2020 Tokyo Olympics.Liquid has raised an undisclosed funding amount from a consortium including University of Tokyo Edge Capital, The Bridge has reported.UTEC is a seed/early stage technology focused venture capital firm associated with The University of Tokyo.University of Tokyo Edge Capital is a seed and early-stage investor associated with Tokyo University. It was joined in the round by general trading company Itochu, software developer and consultancy Information Services International-Dentsu and financial services firm Credit Saison.Liquid has developed a biometrics payment system that uses fingerprints to authorise a transaction. Its technology uses machine learning to enable fast authentication and requires users to have two fingertips scanned.Liquid expects to partner its new shareholders to develop services aimed at tourists, particularly with towards the 2020 Tokyo Olympics, expand further across Southeast Asia and target the medical and public sectors. Liquid raised 50m yen ($426,000) in 2015 when the Ministry of Internal Affairs and Communication approved Liquid for its I-Challange program.
Biometrics payment startup Liquid backed for 2020 Tokyo Olympics
